The share of manufacturing sector in the new job creation would be 32 per cent, Assocham said.
"A one per cent growth in employment in manufacturing sector would mean over 6.25 lakh new jobs," it said.
The sector has seen an uptrend with 17.9 per cent rise in January from just one per cent a year ago.
Within manufacturing sector, textiles, food, metal, beverages, transport equipment, leather and machinery are expected to contribute the most.
Trailing manufacturing will be trade, which is expected to generate 24.24 million new jobs, followed by construction at 15.13 million, the industry body said.
"Agriculture which accounts for a major share in total employment now is likely to be minor contributor to new employment," Assocham President Swati Piramal said. It further said employment in IT/ITeS is expected to increase to 3.28 million by 2015 from 1.62 million in 2007.
Finance Minister Pranab Mukherjee has said the economy is on the path of fast recovery and will end the fiscal with a growth rate of 7.2 per cent as projected by the Central Statistical Organisation.